A usual market study includes three steps – Research, market size estimate and forecasting. We have explained our approach and methodology for each intimately within the following section.
Our team of researchers implements a mixture of primary also as secondary research. Our projects are initiated with secondary research, where we ask a spread of sources including trade databases, government published documents, investor presentations, company annual reports, white papers, and paid databases. This process helps us define the market and refine the scope of the study. We have a really strict guideline for choosing the sources of our information. These sources are screened and checked for the standard of knowledge they provide and their methods of collecting such data. We always countercheck the knowledge from a minimum of two sources to work out the credibility of the info .
We employ the universally accepted approach of knowledge triangulation to estimate market sizes. We apply a mixture of top-down and bottom-up approaches to reach alittle range on the brink of the market size. We then connect with industry opinion leaders, material experts, market participants, suppliers, traders, regulators, etc., to validate and verify our research findings and estimations. We approach participants from all stages of the availability chain and obtain their insights on the market to reinforce the accuracy of our estimations and gain qualitative and subjective information to support our data. Top-down approach : The top-down approach includes estimating the entire Addressable Market (TAM) then refining the market size estimate to the Served Available Market (SAM). We also study the whole value chain to determine the parent market and the upstream market size in the value chain to justify our estimations for the market being studied. market sizes based on the opinions of industry experts, opinion leaders and market participants.market sizes based on the opinions of industry experts, opinion leaders and market participants.
In the rapidly changing business scenario catalyzed by the changes in technology, traditional forecasting models come short. Every market has unique characteristics and risks that impact it differently. We aim to seek out commonalities and abnormalities to spot real patterns. Consequently, we employ custom forecasting models employing a mixture of traditional statistic forecasting methods adjusted to accommodate the consequences of current factors which will have an impression on the present and future outlook of the market. The forecasting techniques we use are a mix of multivariate analysis and exponential smoothening to align our predictive analysis with the recent trends and rapidly change business cycles. For seasonal markets, we use hybrid forecasting methods that include spectral analysis together with decomposition forecasting method.